Personal Loan

Everything You Need to Know about Personal Loan – Eligibility, Interest Rates, Processing Fee, Documents Required, Benefits

Do you wanna take a Personal Loan for your financial needs and stuck up on where to start with? Then, halt your search as our article will shed some light on you regarding What is a Personal Loan, Top Personal Loan Offering Bank Schemes & Offers, Eligibility Criteria to avail a Personal Loan, Documents Required.  Go through the later sections to know the further details such as Processing Fee, Benefits & Features of a Personal Loan, Risks Associated with a Personal Loan, etc.

What is a Personal Loan?

A Personal Loan is a kind of unsecured loan offered by banks without any security or collateral for all your financial needs. Usually, Personal Loans are available at fixed interest rates and the processing is fast compared to any other loans such as home loans, education loans, gold loans, etc.

Personal Loan Details

Interest Rate 8.95% p.a. onwards
Loan Amount Up to Rs.50 lakh
Loan Tenure Up to 5 years
Processing Fee 0% – 3% of the loan amount + GST

Top Personal Loan Schemes and Offers

Bank Best For Key Highlights
State Bank of Mysore Personal Loan Indian households, one can fulfill all their financial requirements.
  • Interest rates ranging from 9.60% p.a.
  • Loans Starting from Rs.50,000 to 15 lakhs.
  • Tenure of 1 to 5 years
State Bank of Travancore Personal Loan numerous loan repayment options available and The loan application is processed in a timely manner.
  • Interest rates ranging from 9.99% p.a.
  • Loans up to 10 Lakhs
  • Tenure of 1 to 5 years
Tamilnad Mercantile Bank Personal Loan Low Rate Interest
  • Interest rates ranging from 14.05% p.a.
  • Loans up to Rs. 2 Lakhs
  • Tenure of 1 to 5 years
The Greater Bombay Cooperative Bank Personal Loan Free Loan Approval Process
  • Interest rates ranging from 16% to 22% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
The Nainital Bank Personal Loan Low Interest Rate and Fast Processing
  • Interest rates ranging from 11.95% p.a.
  • Loans up to 70 lakhs
  • Tenure of 1 to 5 years
The Surath Peoples Cooperative Bank Personal Loan Approval of the loan is quick
  • Interest rates are low
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
The Zoroastrian Cooperative Bank Personal Loan Low Interest Rates
  • Interest rates ranging from 8.95 % p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Tripura Gramin Bank Personal Loan Low Interest Rates
  • Interest rates ranging from 12.50 % p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Ujjivan Small Finance Bank Personal Loan Flexible loan amount
  • Interest rates ranging from 11.49% p.a.
  • Loans Starting from Rs. 50,000 and Rs. 10,00,000
  • Tenure of 1 to 5 years
United Bank of India Personal Loan Low Interest rates
  • Low Interest rates
  • Loans up to 10 lakhs
  • Tenure of 1 to 5 years
Utkarsh Small Finance Bank Personal Loan Quick loan authorization
  • Loans starting from 1 lakh to 10 lakhs
  • Tenure of 1 to 4 years
Shikshak Sahakari Bank Personal Loan Impressive and competitive interest rates
  • Interest rates ranging from 11% p.a.
  • Loans up to 5 lakhs
  • Tenure of 1 to 5 years
Uttar Bihar Gramin Bank Personal Loan Competitive interest rates
  • Interest rates ranging from 11.25% p.a.
  • Loans up to 1,50,000
  • Tenure of 1 to 5 years
The Mapusa Urban Coop Bank of Goa Ltd Personal Loan Huge Amount With Low Interest Rates
  • Interest rates ranging from 12.5 to 13% p.a.
  • Loans up to 25 lakhs
  • Tenure of 1 to 5 years
The Cosmos Co Operative Bank Personal Loan Approval With in 3 days.
  • Interest rates ranging from 10 to 10.25% p.a.
  • Loans up to 5 lakhs
  • Tenure of 1 to 5 years
Sutlej Kshetriya Gramin Bank Personal Loan Processing personal loan applications are quick and simple.
  • Interest rates ranging from 14.50% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
The A.P. Mahesh Cooperative Urban Bank Personal Loan The loan application is processed quickly.
  • Interest rates ranging from 11.35% to 12.10% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Zila Sahakari Bank Personal Loan Regular employees of the Government of India
  • Interest rates ranging from 13% p.a.
  • Loans up to 5 lakhs
  • Tenure of 1 to 5 years
Vanachal Gramin Bank Personal Loan Interest rates which are both attractive and competitive
  • Loans up to Rs 2.5 lakhs
  • Tenure of 1 to 5 years
NKGSB Cooperative Bank Personal Loan Interest rates that are both attractive and competitive
  • High Rate of Interest With Different Rates
  • Loans up to Rs. 2 Lakhs
  • Tenure of 1 to 5 years
Nutan Sahakari Bank Personal Loan easy and fast, quickly approved.
  • High Rate of Interest
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
State Bank of Hyderabad Personal Loan High Rate of Interest, Fast Disbursal
  • Interest rates ranging from 15.7% to 16.2% p.a.
  • Loans up to Rs. 5 Lakhs
  • Tenure of 1 to 3 years
Vijaya Bank Personal Loan High Loan Amount and Fast Disbursal
  • Interest rates ranging from 10.50% to 12.50%.
  • Loan Starting from 2 lakhs to 70 Lakhs
  • Tenure of 1 to 5 years
South Indian Bank Personal Loan  High Rate of Interest, Easy To Apply
  • Interest rates ranging from 11.55% to 14.40% p.a.
  • Loans Starting from 1 lakh to 7,50,000
  • Tenure of 1 to 5 years
Nagpur Nagarik Sahakari Bank Personal Loan Easy and fast processing of the personal loan that the person applies for.
  • Interest rates ranging from 15% p.a.
  • Loans up to 1,50,000
  • Tenure of 1 to 5 years
Nagaland Rural Bank Personal Loan Easy processing
  • Interest rates ranging from 10.70% p.a.
  • Loans Starting from Rs. 50,000 to 5 lakhs
  • Tenure of 1 to 5 years
Meghalaya Rural Bank Personal Loan Processing price is extremely low, and there are no extra expenses
  • Interest rates ranging from 10.70% p.a.
  • Loans Starting from Rs. 50,000 to 40 lakhs
  • Tenure of 1 to 5 years
Kaveri Grameena Bank Personal Loan very attractive and competitive interest rates
  • Interest rates ranging from 9.99% p.a.
  • Loans Starting from Rs. 50,00 to 20 lakhs
  • Tenure of 1 to 5 years
Indian Mercantile Cooperative Bank Personal Loan Personal loan applications are processed efficiently and simply.
  • Loans up to $50,000
  • Tenure of 1 to 5 years
IndusInd Bank Personal Loan Rates that are competitive
  • Loans up to 25 lakhs
  • Tenure of 1 to 5 years
Jammu And Kashmir Bank Personal Loan Low Interest Rates ( Depends on Cibil Score)
  • Loans Starting from Rs. 75,000 to 20 lakhs
  • Tenure of 1 to 5 years
Karur Vysya Bank Personal Loan Quick Approval of Loan
  • Interest rates ranging from 8.7% to 19% p.a.
  • Loans up to 25 lakhs
  • Tenure of 5 years
Karnataka Bank Personal Loan High Loan Amount With Low Interest Rates
  • Interest rates ranging from 11.32% p.a.
  • Loans up to 500 lakhs
  • Tenure of 1 to 10 years
Langpi Dehangi Rural Bank Personal Loan Flexible Interest Rates
  • Flexible Loan Interest rates
  • Loans Starting from Rs. 50,000 to 3 lakhs
  • Tenure Starts from 12 Months
Mahanagar Cooperative Bank Personal Loan Provides Attractive Interest Rates.
  • Interest rates ranging from 11.50% to 15.00% p.a.
  • Loans up to 1 lakh.
  • Tenure of 1 to 5 years
IDFC Bank Personal Loan low-interest rates and versatile and adaptable payback terms.
  • Interest rates ranging from 10.49% to 18% p.a.
  • Loans up to 40 lakhs
  • Tenure of 1 to 5 years
Janakalyan Sahakari Bank Personal Loan Reasonable interest rate, Processing expense is low
  • Impressive Interest rates
  • Loans up to 5 lakhs
  • Tenure of 1 to 10 years
Janata Sahakari Bank Personal Loan quick and uncomplicated process of a personal loan.
  • Interest rates ranging from 9.99% p.a.
  • Loans up to 50 lakhs
  • Tenure of 1 to 5 years
Fincare Small Finance Bank Personal Loan Approval Of Personal Loans Online With Minimum Documents
  • Interest rates ranging from 9.99% p.a.
  • Loans up to 50 lakhs
  • Tenure of 1 to 10 years
Dena Gujarat Gramin Bank Personal Loan Impressive Rate Of Interest
  • Interest rates ranging from 9.99% p.a.
  • Loans up to Rs 10 lakh in India and Rs 20 lakh to study abroad
  • Tenure of 1 to 5 years
Bank of Baroda Personal Loan No strict Credit limits
  • Loans from 1 lakh to 15 lakhs
  • Tenure of 1 to 5 years
City Union Bank Personal Loan For any type of Personal Loan
  • Interest rates ranging from 9.50% p.a.
  • Loans from Rs. 25,000 to 1 lakh
  • Tenure of 3 to 5 years
Equitas Small Finance Bank Personal Loan Fast and Easy Processing of the personal loan application
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Dombivli Nagari Sahakari Bank Personal Loan Any individual can have the opportunity to have this bank loan
  • Interest rates ranging from 11.95% p.a.
  • Loans up to 5 lakhs
  • Tenure of 1 to 5 years
New India Cooperative Bank Personal Loan Repayment Term is Quite Flexible
  • Interest rates ranging from 11% p.a.
  • Loans up to 5 lakhs
  • Tenure of 1 to 5 years
Narmada Jhabua Gramin Bank Personal Loan Loans are approved quickly.
  • Interest rates ranging from 14% p.a.
  • Loan Amount Depends on the Branch of the bank.
  • Tenure of 1 to 5 years
Punjab And Sind Bank Personal Loan PSB provides personal loans at a very affordable rate of interest
  • Interest rates ranging from 11.5% p.a.
  • Loans up to 3 lakhs
  • Tenure of 1 to 5 years
Odisha Gramya Bank Personal Loan Personal loan applications are processed quickly and easily
  • Interest rates ranging from 13.75% p.a.
  • Loans up to 10 lakhs
  • Tenure of 1 to 5 years
Manipur Rural Bank Personal Loan Less processing fee with fast processing
  • Interest rates ranging from 10.70% p.a.
  • Loans up to 2.5 lakhs
  • Tenure of 1 to 5 years
Pallavan Grama Bank Personal Loan Easy documentation process
  • Low-Interest rates
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Nagar Urban Co Operative Bank Personal Loan Simple and fast loan processing, Best for personal requirements.
  • Low-Interest rates
  • Loans up to 1 lakh
  • Tenure of 1 to 5 years
Kashi Gomti Samyut Gramin Bank Personal Loan Interest rates that are both attractive and competitive.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Apna Sahakari Bank Limited Personal Loan Easy and speedy processing of your loan application
  • Loans from Rs. 50,000 to 25 lakhs
  • Tenure of 1 to 5 years
Andhra Pradesh Grameena Vikas Bank Personal Loan You Can Spend It On Educational Purposes Or Build A House And Even For A Vacation If You Like.
  • Interest rates ranging from 9.99% p.a.
  • Loans up to 10 lakhs
  • Tenure of 1 to 5 years
Allahabad Bank Personal Loan Minimum Interest Rate
  • Loans up to 7.5 lakhs
  • Tenure of 1 to 5 years
Arunachal Pradesh Rural Bank Personal Loan The interest rate is competitive and reasonable.
Documentation is kept to a minimum.
Sarva Haryana Gramin Bank Personal Loan
  • Interest rates ranging from 9.99% p.a.
  • Loans up to 20 lakhs
  • Tenure of 1 to 5 years
State Bank of Patiala Personal Loan Loan approval is quite quick
  • Interest rates ranging from 9.60 to 13.85% p.a.
  • Loans up to 10 lakhs
  • Tenure up to 4 years
Saraswat Cooperative Bank Personal Loan Fixed-Rate of Interest and Flexibility in repayment tenure
  • Interest rates ranging from 13.50% p.a.
  • Loans up to 5 lakhs
  • Tenure of 1 to 5 years
State Bank of India Personal Loan Multiple Personal Loans and can fulfill your financial needs with a loan
  • Interest rates ranging from 9.60 to 13.85% p.a.
  • Loans up to 20 lakhs
  • Tenure of 0.5 to 6 years
Sangli Urban Co Op Bank Ltd Sangli Personal Loan bank offers many discounts and special schemes
  • Interest rates ranging from 15% p.a.
  • Loans up to 2 lakhs
  • Tenure of 1 to 5 years
Puduvai Bharathiar Grama Bank Personal Loan Minimal Documentation and Simple Process
  • Interest rates ranging from 17% to 17.50% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Prathama Bank Personal Loan The processing requires very little documentation. It provides very fast approval.
  • Interest rates ranging from 9.99% p.a.
  • Loans from 5000 to 10 lakhs
  • Tenure of 1 to 5 years
Saurashtra Gramin Bank Personal Loan Provides you with fast & easy processing of personal loan application
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Solapur Janata Sahakari Bank Personal Loan The loan approval is quite quick.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Maharashtra Gramin Bank Personal Loan Personal loan applications methods are quick and straightforward.
  • Fixed Interest rates
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Laxmi Vilas Bank Personal Loan Superfast approval for a personal loan
  • Interest rates ranging from 11.50% p.a.
  • Loans Start from Rs.10000
  • Tenure of 1 to 5 years
Madhyanchal Gramin Bank Personal Loan Quick loan approval
  • Interest rates ranging from 14.75% – 16.75%10% p.a.
  • No Maximum Loan Amount
  • Tenure of 1 to 5 years
Mizoram Rural Bank Personal Loan Approval of a loan promptly
  • Interest rates ranging from 12.50% to 15% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Syndicate Bank Personal Loan personal loans are easy to apply
  • Low Interest rates
  • Loans up to 20 lakhs
  • Tenure of 1 to 5 years
Kotak Mahindra Bank Personal Loan A quick disbursement, with money in your account within two days
  • Interest rates ranging from 10.25 to 24% p.a.
  • Loans up to 25 lakhs
  • Tenure of 1 to 5 years
North East Small Finance Bank Personal Loan You can get options to repay multiple loans.
  • Loans up to 10 lakhs
  • Tenure of 1 to 5 years
Paschim Banga Gramin Bank Personal Loan Approval of the loan within 24 hours
  • Lowest Interest rates
  • Loans from 1 lakh to 40 lakhs
  • Tenure of 1 to 5 years
Rajkot Nagrik Sahakari Bank Personal Loan Loans are approved quickly.
  • Suitable Interest rates available.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Punjab National Bank Personal Loan Lowest Interest Rates
  • Interest rates ranging from 8.45% p.a.
  • Loans from 50,000 to 15 lakhs
  • Tenure of 1 to 5 years
Rajarambapu Sahakari Bank Personal Loan
The Akola Janata Commercial Cooperative Bank
Telangana Grameena Bank Personal Loan The loan approval is quite quick.
  • Interest rates ranging from 12.50% to 13.50% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Suryoday Small Finance Bank Personal Loan Higher interest rates
  • High interest rates
  • No Minimum Amount
State Bank of Bikaner and Jaipur Personal Loan The bank has effortless and fast personal loan application’s processing.
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 10,000
  • Tenure up to 6 years
Yes Bank Personal Loan Very Good Interest Rate
  • Interest rates ranging from 10% p.a.
  • Loans from 1 lakh to 40 lakhs
  • Tenure of 1 to 5 years
Uttarakhand Gramin Bank Personal Loan The Bank Does Not Require A Guarantor.
Interest Rates That Are Both Attractive And Competitive
  • Interest rates ranging from 11.25% p.a.
  • Loan Amount Loan Approved Promptly
  • Tenure of 1 to 5 years
Uttar Banga Kshetriya Gramin Bank Personal Loan Applications for Personal Loans Are Processed Quickly And Easily.
  • Interest rates ranging from 14.50% p.a.
  • Maximum loan amount
  • Tenure of 1 to 5 years
UCO Bank Personal Loan There Are Many Repayment Options. Quick And Hassle-Free Process Of The Loan Application. Loan Approval Does Not Take Much Time
  • Interest rates ranging from 10.50% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
TJSB Sahakari Bank Personal Loan Quick And Easy Processing Of The Loan Sanction Form. Loan Approval Does Not Take Much Time.
  • Interest rates ranging from 10.75% p.a. to 11.25% p.a.
  • Loans from Rs. 10,000 up to Rs. 3,50,000
  • Tenure of 1 to 5 years
Himachal Pradesh Gramin Bank Personal Loan    Customer Care Services. Lowest Interest Rates. Provide You With The Best Options for A Personal Loan
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 5,000 to Rs. 20 lakhs.
  • Tenure of 1 to 5 years
The Goa Urban Co Op Bank Personal Loan Fast & Easy Processing Of Personal Loan Applications, Quick loan approval.
  • Interest rates ranging from 9.99% p.a.
  • Maximum loan amount
  • Tenure of 1 to 5 years
The Jalgaon People’s Cooperative Bank Multiple Loan Repayment Options and Quick loan approval.
  • Interest rates ranging from 13.5% p.a.
  • Maximum loan amount
  • Tenure of 1 to 5 years
The Karad Urban Cooperative Bank Personal Loan The Goal Of A Karad Urban Cooperative Bank Personal Loan Is To Meet A Variety Of Financial Needs
  • Interest rates ranging from 7% p.a. to 15% p.a.
  • Loans from Rs. 10,000 up to Rs. 3,50,000
  • Tenure of 1 to 5 years
The Mehsana Urban Cooperative Bank Personal Loan   Approval for The Loan Application Is Quick. Personal Loan Application Is Fast And Easy Processing Which Makes It More Convenient For Individuals.
  • Interest rates ranging from 11% p.a.
  • Loan Amount Based on Eligibility.
  • Tenure of 1 to 5 years
The Shamrao Vithal Cooperative Bank Personal Loan Highest Interest Rates.
  • Interest rates ranging from 16% p.a.
  • Loans Upto 5lakhs.
  • Tenure of 1 to 5 years
The Thane Bharat Sahakari Bank Personal Loan Lowest Conceivable Interest Rates
  • Interest rates ranging from 14% p.a.
  • Loans from Rs.5,000,000.
  • Tenure of 1 to 5 years
Corporation Bank Personal Loan Mainly for Personal Expenses
  • Interest rates ranging from 10.75% p.a. to 11.25% p.a.
  • Loans from Rs. 10,000 up to Rs. 3,50,000
  • Tenure of 1 to 5 years
G P Parsik Bank Personal Loan Low Rate of Interest
  • Interest rates ranging from 8.95% p.a.
  • Loans from Rs. 50,000 up to Rs. 5,00,000
  • Tenure of 1 to 5 years
Dhanalakshmi Bank Personal Loan Easy documentation
  • Interest Rate Is Decided By The Bank Itself.
  • Loans from Rs. 50,000 up to Rs. 15,00,000
  • Tenure of 1 to 5 years
Citizen Credit Cooperative Bank Personal Loan Personal Loan Applications Are Mostly Processed Quickly And Easily.
  • Interest rates depend on Loan Amount
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Federal Bank Personal Loan Simple Documentation
  • Interest rates ranging from 10.49% p.a. to 17.99% p.a.
  • Loans up to Rs. 25,00,000
  • No Limit for EMI’s
Ellaquai Dehati Bank Personal Loan Lowest Interest Rates
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 50,000 up to Rs. 10,00,000
  • Tenure of 1 to 5 years
Chaitanya Godavari Grameena Bank Personal Loan Interest Rates That Are Both Attractive And Competitive. The Rapid Acceptance Of Loans
  • Interest rates ranging from 6% p.a.
  • Maximum Loan Amount
  • Tenure of 1 to 5 years
Capital Small Finance Bank Personal Loan Quick Loan Acceptance, Impressive And Active Rate Of Interest
  • Interest rates ranging from 9.99% p.a.
  • Loans up to Rs.1,00,000
  • Tenure of 1 to 5 years
Utkal Grameen Bank Personal Loan Personal Loan Application Is Processed Quickly And Easily, Making It More Convenient For Consumers.
  • Interest rates ranging from 9.99% p.a.
  • Loan amount depens on the loaner’s need and repayment
  • Tenure of 1 to 5 years
Union Bank of India Personal Loan Variety Of Loan Repayment Choices Available, Approved Quickly And Easily
  • Interest rates ranging from 11.25% p.a.
  • Loans up to 20 Lakhs
  • Tenure of 1 to 5 years
Bank of India Personal Loan Lowest Interest Rates
  • Interest rates ranging from 10.85% p.a.
  • Loans from Rs. 50,000 up to Rs. 10,00,000
  • Tenure of 1 to 5 years
Bangiya Gramin Vikash Bank Personal Loan Open To Both Professional And Self-Employed People.
  • Interest rates ranging from 13% p.a.
  • Loans from Rs. 50,000 up to Rs. 1,00,000
  • Tenure of 1 to 5 years
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 50,000 up to Rs. 10,00,000
  • Tenure of 1 to 5 years
Karnataka Vikas Grameena Bank Personal Loan Quick Loan Approval
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 50,000 up to Rs. 10,00,000
  • Tenure of 1 to 5 years
AU Small Finance Bank Personal Loan Low-Interest Rate
  • Interest rates ranging from 14% p.a.
  • Loans up to 7.5 lakhs
  • Tenure of 2 to 60 months
Bandhan Bank Personal Loan Quick Disbursal
  • Interest rates ranging from 15% p.a.
  • Loans from 1 to 5 lakhs
  • Tenure of 12 to 36 months
Baroda Rajasthan Kshetriya Gramin Bank Personal Loan Interest Rates are Attractive and Competitive
  • Tenure upto 60 months
Bassein Catholic Cooperative Bank Personal Loan Fastest Loan Approval
  • Interest rates (rack interest) ranging between 10.5% p.a. and 21.00% p.a.
  • Tenure of up to 5 years
  • Loans of up to Rs.40 lakh
Bharati Sahakari Bank Personal Loan Quick and Responsive, Faster Loan Approval
  • Interest rate 9.50% p.a.
  • Tenure of 12 to 60 Months.
  • Loans of up to 25 lakhs
Catholic Syrian Bank Personal Loan Lowest Interest Rate and Quick Loan Approval
  • Interest rates ranging between 12 to 19% p.a.
  • Tenure of 60 Months.
  • Loans of up to Rs.40 lakh
Canara Bank Personal Loan Quick Loan Approval
  • Interest rates 12.4%
  • Tenure of up to 5 years
  • Loans of 1 lakh to 3 lakhs
Chhattisgarh Rajya Gramin Bank Personal Loan Quick Loan Approval
  • Lowest Interest Rates
  • Maximum Loan Amount
  • Tenure of 12 to 60 Months
Indian Overseas Bank Personal Loan For Various Personal Financial Commitments
  • Interest rates ranging from 10.90% p.a. to 11.40%
  • Loans Up to 15 Lakhs
  • Tenure of 12 to 84 Months
Janalaxmi Coop Bank Personal Loan Quickly Approves The Loan, Provides Competitive And Attractive Interest Rates.
  • Interest rates ranging from 15% p.a.
  • Loans Maximum Amount
  • Tenure of 60 Months
Kalupur Commercial Cooperative Bank Personal Loan Attractive in comparative interest rates. High chances of quick loan approval
  • Interest rates are by bank.
  • Loans from Rs. 25000 up to 5 lakhs
  • Tenure of 12 to 60 Months
Export-Import Bank of India Personal Loan Personal Loan Applications Are Processed Efficiently And Quickly. A Higher Interest Rate May Be Charged.
  • Interest rates are higher
  • Tenure of 12 to 60 Months
Jalgaon Janata Sahakari Bank Personal Loan Minimum Loan Amount
  • Interest rates (Depending on bank Branch)
  • Minimum Loan Amount.
Jammu And Kashmir Grameen Bank Personal Loan Application for personal loans is easy and fast. Interest rates that are both attractive and competitive
  • Interest rates ranging from 14.50% p.a.
  • Maximum Loan Amount
  • Tenure of 60 Months
Jharkhand Gramin Bank Personal Loan Can Avail loan in Simple 3 Easy Steps
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 25000
  • Tenure from 12 Months
Gramin Bank of Aryavart Personal Loan Quick Disbursal
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 30000 to 1 lakh
  • Tenure from 12 to 60 Months
DCB Bank Personal Loan Helps People To Satisfy Their Necessities.
  • Interest rates (Interest Depending On The Profile Of The Applicant)
  • Loans Upto to 5 lakhs.
  • Tenure upto 60 Months
Indian Bank Personal Loan The flexibility of Loan Amount
  • Interest rates ranging from 10.50% p.a.
  • Maximum Loan Amount
  • Tenure upto 84 Months
Kapol Cooperative Bank Personal Loan Processed Immediately and Effortlessly.
  • Interest rates ranging from 16.25% p.a.
  • Loans Upto 2 Lakhs
  • Tenure from 12 to 60 Months
Central Madhya Pradesh Gramin Bank Personal Loan Quick Disbursal
  • Interest rates ranging from 9.99% p.a.
  • Loans Upto 2 Lakhs
  • Tenure from 12 to 60 Months
Bihar Gramin Bank Personal Loan Low Interest Rates. A couple of loan reimbursement alternatives
  • Interest rates ranging from 9.99% p.a.
  • Loans from Rs. 50000 to 75 Lakhs
  • Tenure from 12 to 60 Months
IDBI Bank Personal Loan Low Interest Rates and Customizable Repayment Schedule
  • Interest rates ranging from 9.50%
  • Loans of up to Rs. 5 lakhs
  • Tenure from 1 to 5 Years
Citibank Personal Loan Low-Interest Rate
  • Interest rates ranging from 9.99% p.a. to 16.49% p.a.
  • Loans of up to Rs.30 lakh
  • Tenure of up to 5 years
HDFC Personal Loan Self-Employed Professional
  • Interest rates (rack interest) ranging between 10.5% p.a. and 21.00% p.a.
  • Tenure of up to 5 years
  • Loans of up to Rs.40 lakh
Kotak Mahindra Personal Loan Quick Turnaround Time
  • Interest rates starting at 10.75% p.a.
  • Loans of up to Rs.20 lakh
  • Tenure of up to 5 years
Tata Capital Personal Loan Flexible Interest Rates
  • Interest rates starting at 10.99% p.a.
  • Tenure of up to 6 years
  • Loans of up to Rs.25 lakh
Standard Chartered Personal Loan Short-term Requirement
  • Interest rates ranging from 11% p.a. to 15% p.a. (indicative)
  • Tenure of up to 5 years
ICICI Bank Personal Loan Quick Disbursal
  • Interest rates ranging between starting at 10.5% p.a. and 19% p.a.
  • Tenure of up to 6 years
  • Loans of up to Rs.25 lakh
IDFC First Personal Loan Top-Up Loans
  • Interest rate starting at 10.49% p.a.
  • Loans of up to Rs.40 lakh
  • Tenure of up to 5 years
Fullerton India Personal Loan Quick Approval
  • Interest rates starting at 11.99% p.a.
  • Loans of up to Rs.25 lakh
  • Tenure of up to 60 months
SBI Personal Loan Different Income Categories
  • Interest rates start at 9.60% p.a.
  • Loans of up to Rs.20 lakh
  • Tenure of up to 7 years
IIFL Personal Loan Easy Eligibility Checks
  • Interest rates starting at 24% p.a. onwards
  • Loans of up to Rs.25 lakh
  • Tenure of up to 5 years
HDBFS Personal Loan Special Offers
  • Interest rates at the discretion of the bank
  • Loans of up to Rs.20 lakh
  • Tenure of up to 5 years
PNB Personal Loan Affordable Interest Rates
  • Interest rates from 8.95% p.a. onwards
  • Loans of up to Rs.10 lakh
  • Tenure of up to 60 months

*Note: Above Listed Data on Interest Rates is True to our Knowledge. However, it can vary go through the terms and conditions before confirming.*

How to Apply for a Personal Loan?

The Application Process for a Personal Loan is convenient and straightforward. Follow the Simple Steps listed below and Apply for a Personal Loan Online. They are as under

  • Firstly, evaluate your needs so that you can know the loan amount you need.
  • Check the Eligibility Conditions of the Bank and decide whether you meet them or not.
  • Know the personal interest rate offered by the bank and use a personal loan EMI Calculator to decide how much your monthly outgo will be.
  • If you are already an existing customer of the bank apply for the loan using the bank’s mobile baking app or through the internet banking feature. if you are new to the bank download the application from the bank’s official website or visit a branch and get the application form.
  • Provide the required KYC Documents along with the Application Form and check the Processing Fee.
  • Once you submit them bank will verify the documents and sanction the loan after approving the amount after you meet the eligibility. Next, you need to sign the agreement and the Standing Instruction Request/ECS Forms.
  • Once you are done with the process funds will be disbursed into your account.

Do Check: HDFC Bank Personal Loan

Risks Associated with Personal Loan

  • In case if you don’t repay your loan on time the bank may sue you and take you to court since you are not backed by any security.
  • In case if you want to pay the personal loan too early there are chances of high penalization.
  • Don’t get into a fake loan agreement by seeing a false advertisement.

KYC Documents Needed for Personal Loan

Following are the KYC Documents Needed for Personal Loan. They are along the lines

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Copy of PAN Card
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport)
  • Latest Passport size photo of the applicant (2 copies)

Income Documents Needed for Personal Loan

You need to keep the following Income Related Documents Handy before applying for a Personal Loan as you might need them. They are as follows

  • Latest salary certificate/ Last 3 months salary slips
  • Last 6 months salary account statement
  • Form 16/Income Tax Returns( last 2 years)

Documents Required for Personal Loan

Personal Loan at Lower Interest Rate 10 Nov 2021

Bank Interest Rate Tenure
South Indian Bank 10.90% – 15.00% Tenure max. upto 48 Months
Oriental Bank Of Commerce 11.20% to 12.95% Maximum Tenure 60 months
UCO Bank 11.35% to 11.60% Maximum Tenure 60 months
Central Bank Of India 11.40% Maximum Tenure of 48 Months
Kotak Mahindra Bank Limited 11.5% to 24% Maximum Tenure 60 months
Andhra Bank 11.50% to 13% Contact Bank Branch
Icici Bank Limited 11.59% to 22.00% Maximum Tenure 60 months
Dhanalakshmi Bank 11.68% to 15.65% Max. Tenure 60 months
Indian Overseas Bank 11.80% Maximum Tenure 60 months
Punjab National Bank 11.90% to 14.90% Contact Bank Branch
Yes Bank 11.99% – 20.00% Maximum Tenure 60 months
Indusind Bank 11% to 30.50% Maximum Tenure 60 months
Catholic Syrian Bank Limited 12.00% to 19.00% Maximum Tenure 60 months
Idbi Bank 12.20% Maximum Tenure 60 months
State Bank Of India 12.45% Maximum Tenure of 48 Months
Bharatiya Mahila Bank Limited 12.45% Maximum Tenure of 48 Months
State Bank Of Mysore 12.45% Maximum Tenure of 48 Months
State Bank Of Hyderabad 12.45% Maximum Tenure of 48 Months
State Bank Of Patiala 12.45% Maximum Tenure of 48 Months
State Bank Of Travancore 12.45% Maximum Tenure of 48 Months
State Bank Of Bikaner And Jaipur 12.45% Maximum Tenure of 48 Months
Vijaya Bank 12.50% to 13.50% Maximum Tenure 60 months
Bank Of Maharashtra 12.75% Maximum Tenure 36 months
Corporation Bank 12.75% to 13.75% Maximum Tenure 60 months
Punjab And Sind Bank 12.75% to 14% Maximum Tenure 60 months

*Note: Above is the banks that provide Lower Interest Rates on Personal Loan effect to 10th November 2021. Kindly check them before applying for personal loans as they may vary at times based on terms and conditions.*

Tips to Keep in mind while applying for a Personal Loan

Follow the simple steps listed below before applying for a personal loan. They are as under

  • The first and foremost step is to try for a bank where you have a relationship such as a salary account, home loan, car loan, etc. so that KYC Process will be much easier and faster.
  • Later compare the personal loan interest rates, processing fees, penalty for pre-payment/foreclosure, etc. as all these add up to your cost. Banks that offer lower interest rates will charge a higher processing charge or penalty for foreclosure.
  • Maintain a good credit score so as to improve your chances of loan requests getting approved. This is one of the conditions along with other conditions of loan application reviewing.
  • Make sure you repay the loans on time as they would improve your chances of securing the loan.

Benefits & Features of Personal Loan

There are several perks of choosing a Personal Loan as we have outlined some of them for your idea. They are as follows

  • You can meet all your aspirations and you don’t have to wait for the need for money to hold you back.
  • You can choose the personal loan amount.
  • Minimum documents are needed for loan approval.
  • You will have the flexibility to choose the loan tenure.
  • Interest Rates are fixed and remain the same throughout the loan tenure.
  • There is no need for providing any security or collateral.

Benefits of Personal Loan

FAQs on Personal Loan

1. What is meant by a Personal Loan?

A Personal Loan is a type of unsecured loan that you can borrow from any financial institution or bank for all your financial needs.

2. What are the Documents Required for Applying for a Personal Loan?

Below is the list of minimum documents needed while applying for a Personal Loan and they are as follows

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Copy of PAN Card
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport)
  • Latest Passport size photo of the applicant (2 copies)

3. Does a personal loan offer tax benefits?

No Personal Loans are not eligible for tax benefits unlike home loans or some secured Business Loans.

4. What can a Personal Loan be used for?

You can use the Personal Loan for any of your needs and there is no restriction on what the money should be used for.